Wells Fargo says no material impact from Brexit vote

The sign outside the Wells Fargo & Co. bank in downtown Denver

(Reuters) – Wells Fargo & Co <WFC.N> said on Wednesday that it did not experience any material impact on its UK or other foreign businesses as a result of Britain’s vote to leave the European Union.

Wells Fargo said the higher end of its potential litigation losses in excess of its liability for probable losses was about $1 billion as of June 30.

The lender’s total net exposure to the United Kingdom totaled $27.06 billion as of June 30.

(Reporting by Nikhil Subba in Bengaluru; Editing by Savio D’Souza)